Variable Death Benefit Insurance Policy: Understanding Flexible Coverage for Uncertain Times
A variable death benefit insurance policy is a type of life insurance contract that offers flexibility in payout options, allowing the insured to adjust the death benefit amount over time. For instance, a policyholder might increase coverage during periods of higher income or family responsibilities, and decrease it later on. This adaptable approach provides peace of mind and ensures that beneficiaries receive the desired level of financial protection at different life stages.